| 5·6G, AI, IoT, Blockchain, Cryptocurrency Change the Future
| Future Economy, Autonomous Commerce-Predictive Production-Leap Economy
| Realizing a frictionless economy starts with resolving seven dilemmas

Where should the human-machine partnership for a frictionless economy go in 2030?

Dell Technologies released the 'Future of the Economy' report on the 3rd, which forecasts the future economy according to the development of new technologies.

The report provides an outlook on how the emergence and advancement of new technologies will shape our economy over the next decade, as well as insights into how businesses and organizations should respond to change.

The Future of Economy report is a follow-up study to the future prediction report 'Realizing 2030' as part of Dell Technologies' thought leadership campaign that has been conducted since 2017.

This report, conducted by the Institute of the Future (IFTF), a non-profit think tank in the United States, contains the results of interviews with 4,600 business leaders in 40 countries around the world and workshops with futurists and experts.

The IFTF report stated that by 2030, individuals, businesses, and governments can achieve a “friction-free economy” through perfect collaboration, and that the partnership between humans and machines will be the catalyst for creating a more fair and efficient economic structure.
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The report mentioned five areas as major new technologies that will change the future economy: 5G/6G, AI, IoT, blockchain, and virtual currency.

It also foresees that new technologies will rapidly mature and spread over the next 10 years, and that these technological innovations will drastically change the landscape of the future economy in 2030. The following three changes are cited as major changes:


The emergence of machines that act as consumers, autonomous commerce
The report first foresees that machines will not only carry out human commands, but will also perform 'autonomous commerce' with other machines on behalf of humans.

For example, AI-powered devices can shop for items that are lacking in the home or of the required quality, a washing machine can communicate with other home appliances or sensors to determine the use of hot water, and when a defect is detected in a specific device, a maintenance company can be called to resolve the problem.

He predicted that advances in blockchain, distributed ledger technology (DLT), cryptocurrencies, and sensors will accelerate this change, and that machines will evolve into consumers as AI continuously updates its software.

Forty-seven percent of business leaders surveyed supported this outlook, saying they expect more transactions to take place over blockchain within the next five years.


Manufacturing Beyond Manufacturing, Anticipatory production
Secondly, on-demand production according to user needs is expected to become the new standard.


In the past, large-scale facilities and manufacturing know-how accumulated over a long period of time were required to produce and commercialize products.

In the future, not only large corporations but also startups and even individuals will be able to easily create prototypes and produce small quantities at low cost with the help of computer technology.

It also predicted that the cost of robotics and 3D printers will gradually decrease, data generated from IoT sensors will be used to improve the manufacturing cycle in real time, and a 'meta-making' trend will emerge, which will enable complex goods or services to be launched and enter the global market with limited resources through automated software updates.

Seventy-five percent of global business leaders who participated in this survey said they plan to use new technologies to anticipate customer needs and manage resources within the next five years.


Increasing Inclusiveness of Economic Opportunity, Leapfrog Economies
Finally, advances in new technologies will create new revenue streams for businesses and individuals and provide inclusive development opportunities for people across geographies and social classes, lifting millions out of poverty.

energyAs the cost of alcohol continues to fall, innovation becomes more accessible without the need for large-scale infrastructure, and access to capital and financial services becomes easier than ever before.

As emerging nations develop clear national visions and roadmaps for distributed ledger technologies, 5G, and AI, they will likely find new ways to share and exchange value.

Fifty-four percent of respondents from emerging markets said they expect to conduct more transactions via blockchain within the next five years, compared to 41% from developed markets.


Seven Dilemmas That Must Be Solved to Achieve a Frictionless Economy
The report analyzed that there are many complexities and uncertainties ahead of such a major change, and listed seven dilemmas that business leaders must solve to realize the upcoming 'friction-free economy': security, data privacy, human-machine interaction, trust and transparency, governance, job creation and education, and environmental impact.
br /> Let's look at it in order. In the case of security, security must be deeply embedded in all IT infrastructure because technologies such as IoT and AI enable intelligent and targeted attacks.

As the amount of data increases exponentially, so do the risks. Therefore, data privacy begins with data protection.

There are still many challenges, such as bias in AI and errors in self-driving cars. Humans need to supervise and coordinate the machines well to achieve the best results.

As distrust between consumers, businesses, and countries grows, more data barriers are created, which can act as friction in the economy. Only by creating a transparent economic culture can trust be restored.

Technology can be exploited, so it requires proper oversight and balance, that is, governance.

Automation can eliminate jobs, but it can also create them, so education and training that adapts to the changes will help everyone participate in and thrive in the digital future.

Increased production can impact the natural environment. Companies must make efforts to offset or minimize these environmental risks.

According to the report, 51% of survey respondents said they will have difficulty meeting rapidly changing consumer demands in the next five years, showing that digital transformation is still difficult.

Dell Technologies, in its report, predicted that technological advancements will bring opportunities to open up a new economy, but it also emphasized the importance of quick responses by companies and organizations to seize opportunities in times of change, saying that how they respond to the above dilemma will make a big difference.

More detailed information about the report can be found on the Dell Technologies website .